Alphabet shares surge after strong Q1 earnings
Alphabet (GOOG, GOOGL) stock jumped more than 5% in pre-market trading Friday after the tech giant reported robust fiscal first-quarter results that surpassed Wall Street expectations.
The company posted earnings per share of $2.81 on revenue of $90.2 billion, beating analyst forecasts of $2.01 EPS and $89.1 billion in revenue, per Bloomberg consensus, News.Az reports, citing foreign media.
The company reported earnings per share of $1.89 on revenue of $80.5 billion during the same period last year.
Google's advertising revenue topped out at $66.8 billion versus expectations of $66.4 billion. Google Cloud Platform revenue was $12.2 billion versus expectations of $12.3 billion. The segment saw $9.5 billion in revenue in Q1 2024.
Google is among the first Big Tech companies to report its earnings since President Trump's "Liberation Day" tariff plan sent markets into a tailspin and raised the specter of a possible economic recession, something analysts say could impact second-half earnings.
The company is also contending with the fallout from its twin antitrust losses. Last week, a US federal judge found that Google holds an illegal monopoly over the online advertising market, which could force it to sell off or reorganize its ads business.
The loss comes less than a year after a judge found that Google's search and ad businesses also violated antitrust laws.
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